Even if the GP claim was true, it does not follow that every thing that is being "laughed at and only adopted by nerds" is the next big thing to redefine the industry.

Augmented reality has some nice properties in a number of contexts. In others, it's totally irrelevant. Whether someone will come out with a product that will make it irreplaceable is a different matter.

It's like touch keyboards. Sure, they are better than phone keypad-style keyboards for entering text, but actual physical input still performs better. They are a different paradigm that allows device manufacturers to provide a more often desired feature (larger screens), but while they are winning over in places where they do not fit (like in-car infotainment systems), almost everybody prefers physical knobs for a number of features (like climate control). This will likely lead to a reversal of the trend.